420 S 9th Ave · Mount Vernon, NY 10550

$699,000

6 bd · 3.0 ba · 2,860 sqft · MultiFamily · 34 Days on market

Built 1930 2,614 sqft lot Est $841k · 17% under

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.4/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +6.9/10.0
• Schools +3.7/10.0
• Livability +3.6/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks

3-unit income property currently occupied with reliable tenants and strong cash flow! Units are in great condition with bright windows and well-kept grounds. Located in prime area with easy transit access. You can choose to either occupy one unit and lease the other two — or lease all three for maximum return. Proven appreciation and steady demand make this a smart portfolio addition. Act now to secure this stable, high-performing investment!

Key facts

• Strong cash flow
• Great condition
• Bright windows

Tags

• INCOME PROPERTY
• RELIABLE TENANTS
• STRONG CASH FLOW
• GREAT CONDITION
• BRIGHT WINDOWS
• WELL-KEPT GROUNDS

What this means for you Summary

Snapshot

• This is a 3 × 2-bed/1.0-bath units multifamily listed at $699k.

Deal economics

• At list price, monthly cash flow is $1k ($15k/yr) — positive. Per door: $429/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($8k rent vs $699k).
• Recommended offer: $678k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 5.3% in Mount Vernon — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 71/100 on livability (#397 in NY) — a middle-class / working-renter tenant base. Strengths: commute A+, health & safety A, employment B; Watch: crime D-, cost of living F.
• Mount Vernon School District (suburban): math 35% / reading 50% proficiency, ranked #485 of 590 in NY (top 82%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Rebecca Turner Elementary School (math 54% / reading 74%, grade B, #591 of 2,108 statewide, top 31%, 218 students, 70% FRL); Benjamin Turner Middle School (math 8% / reading 32%, grade F, #678 of 729 statewide, top 94%, 196 students, 71% FRL); Denzel Washington School-Arts (math 57% / reading 84%, grade B+, #701 of 1,100 statewide, top 64%, 383 students, 58% FRL) — zoned schools at 66% FRL track the district average.
• Market conditions: Rents rising (+3.4%/yr); 130 active listings in the ZIP; 954 units permitted in Westchester County in 2024 (649 in 5+ unit buildings).
• At $8,327/mo this rent would consume 165% of the median local household income ($61k/yr) (locally 2963% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $5k of loan paydown is wiped out by about $21k of value loss. Plan a longer hold.
• Westchester County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($678k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $318k; list at $699k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→15/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $678,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1930 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.19% ✓
• Cap rate: 8.50%
• Cash-on-cash: 7.90%
• DSCR: 1.35
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $840,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4415 Mundy Ln	0.15mi	5/3.0 (-1)	2,650 (-7%)	8mo	$873,000	$329	69
4315 Murdock Ave	0.31mi	5/3.0 (-1)	2,760 (-4%)	8mo	$680,000	$246	68
349 S 4th Ave	0.30mi	6/2.0	2,700 (-6%)	7mo	$1,000,000	$370	67
132 East 4th St	0.58mi	6/2.0	2,800 (-2%)	0mo	$700,000	$250	65
515 S 9th Ave	0.17mi	5/2.0 (-1)	2,627 (-8%)	9mo	$640,000	$244	62
32 Duryea Ave	0.43mi	5/3.0 (-1)	2,624 (-8%)	6mo	$875,000	$333	56
4212 Monticello Ave	0.28mi	5/2.0 (-1)	3,163 (+11%)	6mo	$959,000	$303	56
4216 Edson Ave	0.49mi	6/3.0	3,186 (+11%)	3mo	$930,000	$292	55
418 S 1st Ave	0.41mi	7/4.0 (+1)	3,128 (+9%)	6mo	$919,000	$294	51
415 S 2nd Ave	0.38mi	7/2.0 (+1)	2,614 (-9%)	13mo	$870,000	$333	48
123 S 8th Ave	0.51mi	6/3.0	2,500 (-13%)	12mo	$700,000	$280	45
4063 Ely Ave	0.74mi	6/2.0	3,119 (+9%)	9mo	$895,000	$287	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.37% rent growth · sell at horizon

5-year hold

• IRR: -3.8%
• Equity multiple: 0.86×
• Total profit: $-27,692
• Equity at exit: $104,223

10-year hold

• IRR: 6.4%
• Equity multiple: 1.49×
• Total profit: $96,068
• Equity at exit: $60,437

Cash invested: $195,720 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 15 Strongly Tenant-Friendly
• State New York: 15 Strongly Tenant-Friendly · D+10
• County: — inherits STATE
• City: — inherits STATE

NYC rent stabilization (~1M units); 2019 HSTPA strengthened tenant rights; courts deeply backlogged.

Methodology + full state rankings →

ZIP-level market 10550

• Rents YoY: 3.4%
• Active inventory: 130
• Price-to-rent: 21.0×

Monthly cashflow live

• Estimated rent: $8,327 high
• Mortgage (P&I): −$3,666
• Tax from tax record: −$1,333 /mo · $15,997/yr
• Insurance: −$291
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,749
• Net cashflow: $1,288

Break-even live

Break-even rent $6,696

Max offer price $699,000

Occupancy floor 80%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	2	1	$8,328
Total (3 units)			$8,327

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $174,750
• Closing costs: $20,970
• Reserves months: —
• Total cash needed: —

Listing history 12 events

1. 2026-04-24
   status Pending
2. 2026-02-19
   listed $699,000 Active
3. 2025-10-08
   historical $2,100
4. 2025-08-08
   listed $2,100
5. 2023-07-26
   price $687,000
6. 2023-07-12
   listed $698,000 Active
7. 2019-10-03
   historical
8. 2019-05-06
   listed $599,999 Active
9. 2018-10-11
   soldstatus $318,000
10. 2018-09-14
    soldstatus $318,000 Sold
11. 2018-08-07
    historical Pending
12. 2018-06-25
    listed $329,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast NY · Partial reset (capped growth)

• Current annual tax: $15,997 · $1,333/mo
• Projected year-2 tax: $15,997 · $1,333/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 5/10 Major 6 unhealthy d/yr today · 8 by 30 yrs out

Taxation est. · year 1

• Rental income: $99,924
• − Mortgage interest: −$39,155
• − Property taxes: −$15,997
• − Insurance: −$3,495
• − Repairs & maintenance: −$7,994
• − Management: −$7,994
• − Depreciation: −$20,335
• Taxable income: $4,955
• Est. tax owed @ 24.0%: −$1,189
• After-tax cash flow: $14,271/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Mount Vernon School District
• NCES district ID: 3620100
• Math proficiency: 35% ▼ -3.00%
• Reading proficiency: 50% ▲ 6.00%
• Median HH income: $50,890
• Composite: 36.59/100
• National rank: #4631
• State rank: #485 of 590 in NY

Livability — Mount Vernon

• Score: 71/100
• State rank: #397
• US rank: #6876

Category grades

Amenities C+ Commute A+ Cost of living F Crime D- Employment B Housing C Health & safety A User ratings D+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Vernon, NY
• County: Westchester County · 709,332 people
• City population: 61,313
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• Population (ZIP): 38,972
• Household income: $60,701
• Rent vs Own: 71.8% rent · 28.2% own
• Severe rent burden: 2963.0

Population outlook (Westchester County) Hauer SSP2

• Today (2025): 1,028,035 people
• By 2030: 1,051,636 · +2.3%
• By 2040: 1,098,520 · +6.9%
• By 2050: 1,136,044 · +10.5%
• By 2075: 1,196,925 · +16.4%
• By 2100: 1,175,147 · +14.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (66%)
• Race & ethnicity: Black 66% Hispanic / Latino 20% Two or more races 12% White 7% Asian 1%
• Hispanic origin (detail): Mexican 3% Puerto Rican 5% Dominican 4%
• Common ancestry: Estonian 2% Hispanic 1% Russian 1%
• Foreign-born: 34% · Canada, China, Jamaica
• Languages at home: 73% English-only · Spanish 16% Other Indo-European 4% French/Haitian/Cajun 2%

Political lean MEDSL · Westchester

• 2024 margin: Strong D (+26.3) · D 63.1% · R 36.9%
• 2008→2024 swing: -1.3pp toward R · 2008: 27.6pp · 2024: 26.3pp
• All cycles: 2024: D+26.3 2020: D+36.3 2016: D+32.8 2012: D+22.2 2008: D+27.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -140.69%
• Current HPI: 191.5235
• Rent YoY: ▲ 3.37%
• Metro: New York-Newark-Jersey City, NY-NJ-PA
• State GDP YoY: ▲ 2.60%
• F500 in state: 92

Industry mix (Fortune 500 HQ in NY)

Industry	F500 HQs	Revenue
▸Financial Services	10	$950B
▸Consumer Goods	9	$162B
▸Insurance	4	$225B
▸Telecommunications	2	$144B
▸Pharmaceuticals	2	$112B
▸Media / Entertainment	2	$69B

Price history

+112.5% since first listed

12 events — show timeline

• 2026-04-24 Pending — OneKey® MLS as Distributed by MLS Grid
• 2026-02-19 Listed $699,000 OneKey® MLS as Distributed by MLS Grid
• 2025-10-08 Rental Removed $2,100 SHOWMOJO
• 2025-08-08 Listed for Rent $2,100 SHOWMOJO
• 2023-07-26 Price Changed $687,000 OneKey® MLS as Distributed by MLS Grid
• 2023-07-12 Listed $698,000 OneKey® MLS as Distributed by MLS Grid
• 2019-10-03 Listing Removed — OneKey® MLS as Distributed by MLS Grid
• 2019-05-06 Listed $599,999 OneKey® MLS as Distributed by MLS Grid
• 2018-10-11 Sold (Public Records) $318,000 Public Records
• 2018-09-14 Sold (MLS) $318,000 OneKey® MLS as Distributed by MLS Grid
• 2018-08-07 Contingent — OneKey® MLS as Distributed by MLS Grid
• 2018-06-25 Listed $329,000 OneKey® MLS as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2025): $15,997 · +2.1% YoY. Source: county tax records.